The new platform from PayLogic enables interoperability between banks and mobile money wallets, a critical step for financial inclusion in a nation where cash is king.

Global payment solutions provider PayLogic announced on Monday the launch of the National Payment Switch, a new national payment system in the Comoros. The operational platform aims to reduce the country's reliance on cash and accelerate financial inclusion.

"The successful go-live of the National Payment Switch in Comoros reflects PayLogic’s commitment to advancing secure and interoperable payment infrastructure across emerging markets," said Mohamed Mekouar, PayLogic's executive chairman. "By partnering with central banks and financial institutions, we help deliver systems that drive inclusion, efficiency, and long-term financial innovation."

The platform provides interoperability between banks, microfinance institutions, and mobile money operators, enabling real-time digital transactions such as transfers, merchant payments, and remittances from the diaspora. The goal is to reduce dependency on cash and make financial services more accessible for both households and small businesses.

This initiative is part of the Financial Sector Development Support Project in the Comoros, which is backed by the World Bank. It comes as financial inclusion remains limited in the archipelago. To address this, the Central Bank has launched a policy of free bank account openings for individuals and fee-free money transfers for the diaspora. The objective is to raise the banking rate to 50% by the end of 2025.

However, several challenges could hinder the system's success. Internet penetration remains low at 35.7% as of early 2025, despite relatively high mobile coverage at 77.6%. Public distrust of digital payments could also slow adoption. The project's success will ultimately depend on financial institutions' ability to offer services that are accessible, affordable, and tailored to local needs.

With this launch, the Comoros joins a growing list of countries that have selected PayLogic as a partner for their national interoperable payment switches, including Lesotho, Eswatini, and six central African states through a regional switch.

Samira Njoya